Alaya Seeks the Suggestions on Improvement for the Implementation of Privacy Token Contract Standard

As the prototype of PlatON serving as the infrastructure for privacy-preserving computation and distributed economies, Alaya provides more tools and applications that work for the issuing and transactions of data assets based on privacy-preserving computation to encourage more data owners, demand sides and algorithm providers to get involved in the construction of infrastructure for data element circulation.

Based on its stable and high performance, Alaya proposed its first improvement proposal PIP-13, a standard interface that realizes privacy token contract. PIP is short for PlatON Improvement Proposal.

Currently, the mainstream blockchains perform the token transfer based on account model, and the token circulation can be easily traced. Thus, there are emerging demands on the hiding transaction parties through privacy token contract standard. This standard is expected to realize a series of interfaces, support privacy token through WASM smart contract, help with the creation and burning of privacy token and the interaction ability of standard token (non-privacy token). Meanwhile, the standard wishes to realize the anonymization of standard token transfer, and get rid of ECDSA algorithm on user ID to innovate the user ID algorithm with cryptography technologies.

Zero-Knowledge Proof (ZKP) has small proof size, short verification time, and is an ideal option for being applied in smart contract, thus, it develops rapidly. While UTXO model has been widely used in privacy-related public blockchains, thus the powerful combination of UTXO and ZKP is an ideal option to realize the privacy token of smart contract. The interface standard of PIP-13 will be designed based on UTXO and ZKP.

Currently, PIP-13 has been released on Github: Welcome to check the standard info of PIP-13, and left your opinion there.